the Lean Startup
Think big, Start Small
Zappos began with a tiny, simple product. It was designed to answer one question aove all: is there already sufficient demand for a superior online shopping experience for shoes?
Value and Growth
As we saw in the Faceook story, two leaps of faith stand above all others: the value creation hypothesis and the growth hypothesis. The first step in understanding a new product or service is to figure out if it is fundamentally value-creating or value-destroying.
The problem with most entrepreneurs’ plan is generally not that they don’t follow sound strategic principles but that the facts upon which they are based are wrong. Unfortunately, most of these errors cannot be detected at the whiteboard because they depend on the subtle interactions between products and customers.
At minimun viable product(MVP) helps entrepreneurs start the process of learning as quickly as possible.
The goal of the MVP is to begin the process of learning, not end it. Unlike a prototype of concept test, an VP is designed not just to answer product design or technical questions. Its goal is to test fundamental business hypotheses.
Deciding exactly how complex an MVP needs to be cannot be done formulaically. It requires judgment. Luckily, this judgment is not difficult to develop: most entrepreneurs and product development people dramatically overestimate how many features are needed in an MVP. When in doubt, simplify.